The price of Solana has traders worried after the weekly SuperTrend indicator turned bearish. Crypto expert Ali shared insights on X (formerly Twitter), warning that the last time this indicator turned negative, SOL experienced a 95% decline. This new signal raises questions about where SOL might go next as it sits near important support levels.
The SuperTrend indicator, which many traders use to track trends, is now showing bearish on Solana’s weekly chart. The last time this happened in mid-2022, SOL’s price dropped sharply afterward. This bearish signal comes as Solana has fallen from nearly $200 to around $126.
Ali’s tweet highlighted this pattern, warning about possible further drops. Traders are closely monitoring whether SOL’s price will follow the previous trend or manage to hold critical support levels. The shift in the SuperTrend indicator suggests increasing selling pressure, raising speculation about a possible extended downturn.
What you'll learn 👉
SOL Key Support and Resistance Levels in Play
Solana is now testing support between $120-$130. If it breaks below this range, prices could fall further, with the next support around $95-$100. This region previously acted as a base during an earlier accumulation phase before the strong uptrend in 2023.
On the upside, resistance remains around the $200-$250 range, where SOL recently faced rejection. For a recovery, SOL’s price would need to climb back above $150-$160 to show the downtrend might be over. Traders are watching closely to see if Solana will hold steady or continue falling.
Solana Market Sentiment and Historical Patterns
The volume on the chart is not visible, but the sharp drop suggests heavy selling activity. If this selling pressure continues, it may reinforce the bearish SuperTrend signal. The historical precedent set by the 2022 downturn adds weight to Ali’s concerns, as similar conditions previously led to a steep decline.
However, the market’s response to this indicator will determine the outcome. If buyers step in at current levels, Solana’s price could enter a period of consolidation rather than following the same path as before. Given the broader market conditions, investors are weighing whether this bearish flip is an early warning sign or a temporary setback.
Read Also: ONDO Price Action Mirrors Past Bottoms – Is a Trend Reversal Coming?
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